Welcome!

AJAX & REA Authors: Jnan Dash, Piram Manickam, Subrahmanya SV, S Sangeetha, Bob Gourley

News Feed Item

Intertainment Media and Avenza Systems Acquire Poynt Corporation Assets

TORONTO, CANADA -- (Marketwire) -- 01/14/13 -- Intertainment Media Inc. ("Intertainment" or the "Company") (TSX VENTURE:INT)(OTCQX:ITMTF)(FRANKFURT:I4T) is pleased to announce that together with Toronto-based Avenza Holdings Inc., developers and marketers of computer software for the mapping and geographic information systems (GIS) and mobile mapping sectors, have jointly, on a 50/50 basis, acquired the assets of Poynt Corporation by recommendation of the Receivers, Alberta-based Hardie and Kelly Inc., and approval of the sale and a vesting order by the Court of the Queen's Bench of Alberta. A new private company has been formed by Intertainment Media Inc. and Avenza Holding Inc. to operate the asset.

Poynt has a number of early stage patents granted in their key business areas and a vast international user-base of its popular mobile application. Localized mobile marketing has grown significantly in the past few years and the Poynt application has had tremendous growth globally as a leading mobile application on industry leading mobile platforms, such as, BlackBerry, Apple, Android and Windows.

Moving forward, the new private company will in part be focused on the development of geographic based localization opportunities for consumers and businesses as well as accelerating its patent protection efforts. Intertainment and Avenza will work together to add additional core functions and capabilities to the Poynt platform from their own respective company divisions and integrate new and strategic functionality across the products of all three organizations.

"We feel that our partnership with Intertainment for the acquisition of the Poynt platform and assets, in combination with our expertise in mapping, geographic information systems and location-based services will provide new and exciting opportunities to enhance localization and travel opportunities for both Poynt users and commercial partners," said Mr. Ted Florence, CEO of Avenza Holdings Inc.

"We are very excited to have the opportunity to acquire the Poynt platform and its assets and continue to move forward with its leadership position in the global localization arena in partnership with Avenza's worldwide expertise in mapping and location services," said Mr. Anthony R. Pearlman, President and Chief Operating Officer Intertainment Media Inc.

Mr. Anthony R. Pearlman has been appointed by the partners as Chief Executive Officer of the new enterprise. As the partners take full control of the assets, there will be updates and additions to the platform, user experience and web activities. Further information will be available at www.poynt.com.

Avenza Holdings Inc. - www.avenza.com

Avenza Holdings Inc. is a private Canadian company that, through its Avenza Systems subsidiary, develops, markets and supports computer software products and royalty-free map data for the mapping and geographic information systems (GIS) industries as well as the award-winning PDF Maps app for mobile map use, distribution and commerce. Avenza creates software that focuses on design, publication and the creative aspects of mapping and spatial imaging. Organizations and individuals use MAPublisher®, Geographic Imager®, and the PDF Maps app to create and use high-quality cartographic products. With products being used internationally and a distribution network of resellers, the global reach of Avenza is continually expanding.

Intertainment Media Inc. - www.intertainmentmedia.com

Intertainment is one of Canada's leading technology incubators and is focused on developing, nurturing and investing in both North American and global technologies and companies that provide technology solutions for brands and consumers alike. Intertainment also owns and operates a number of key properties including Ad Taffy, itiBiti, Ortsbo, Deal Frenzy, The Sweet Card and Magnum, with investments in leading edge technologies and social media platforms including theaudience.com. For more information on Intertainment and its properties, please visit www.intertainmentmedia.com.

Intertainment is headquartered in the Toronto, Canada region, with offices in New York, Los Angeles and San Mateo, CA and is listed on the TSX Venture Exchange under the symbol "INT" (TSX VENTURE:INT) and in the US on the OTCQX Market under the symbol "ITMTF". Intertainment is also traded in Europe on the Open Market (Regulated Unofficial Market) of the Frankfurt Exchange through the XETRA trading platform under the symbol "I4T".

This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, is forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the company's disclosure documents on the SEDAR website at www.sedar.com. The company does not undertake to update any forward-looking information except in accordance with applicable securities laws.

This release may contain forward-looking statements within the meaning of the "safe harbor" provisions of US laws. These statements are based on management's current expectations and beliefs and are subject to a number of risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Intertainment Media Inc. does not assume any obligation to update any forward-looking information contained in this news release.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts:
CORPORATE CONTACTS:
Intertainment Media Inc.
David Lucatch
CEO
info@intertainmentmedia.com
www.intertainmentmedia.com

Avenza Holdings Inc.
Ted Florence
info@avenza.com
www.avenza.com

Poynt Information
Anthony R. Pearlman
info@intertainmentmedia.com
www.poynt.com

More Stories By Marketwire .

Copyright © 2009 Marketwire. All rights reserved. All the news releases provided by Market Wire are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Cloud Expo Breaking News
In an ideal developer/systems administrator’s world, most applications would deploy seamlessly to multiple platforms and scale elastically with minimal effort bringing the unprecedented agility of the cloud within immediate reach of developer teams and IT organizations. OpenStack, a RackSpace and NASA initiative, is now managed by an independent foundation and is supported by multiple vendors. It defines APIs for compute, storage, networking, services, monitoring, and additional infrastructure...
Companies around the world are moving into on-premise private cloud environments. Many connect their private cloud to their public cloud service providers. In his session at 12th Cloud Expo | Cloud Expo New York [June 10-13], Brian Patrick Donaghy will talk about examples of what worked, what failed and why we should think about this evolution.
Enterprise cloud adoption revolves around pushing the BYOD movement and focusing on data security. In his session at the 12th International Cloud Expo, Ross Brouse, COO and President of Solar VPS, will cover how cloud adoption is driven by consumerism, humanity’s need to socialize, our addiction to new gadgets and the ability of data to stay secure in a growing collaborative world. The cloud is a drug and we’re just getting hooked. Ross Brouse is the COO and President of Solar VPS. He is a tr...
Organizations across the world are increasingly starting to see the benefits of moving more and more services to the cloud. The focus on the cost-saving potential of cloud is rapidly shifting to completely transforming the business with cloud. As organizations are investing enormous sums on technology they are starting to realize that in order to maximize the return on investment and accelerate the business transformation process the first area of focus should be people. By ensuring the organiza...
A recent study by analyst firm IDC reports that in 2012, 1.7 million cloud computing-related roles across the globe could not be filled due to the lack of training, certification and experience in the applicant pool. As the global demand for cloud and big data expertise increases, employers are finding it difficult to recruit talent, which is slowing down the ability for organizations to adopt, implement, and realize benefits from innovative platforms like OpenStack. In this session join Clo...
Our more interconnected planet is accelerating the adoption and convergence of next-generation architectures, in the form of cloud, mobile and instrumented physical assets. Organizations that can effectively balance optimization and innovation, will be in a position to leverage new systems of engagement, out maneuver their peers and achieve desired outcomes. In the Opening Keynote at 12th Cloud Expo | Cloud Expo New York, IBM GM & Next Generation Platform CTO Dr Danny Sabbah will detail the crit...
The cloud-enabled data center sits at the center of IT transformation. It facilitates the interconnection and communities that come together, propelling growth for both buyers and sellers. In his session at the 12th International Cloud Expo, Gerry Fassig, CoreSite’s Vice President of Sales, will discuss how CoreSite is bringing together best-of-breed partners through the Open Cloud Exchange resulting in public, private, and hybrid cloud interconnection and management as well as connectivity to...
Companies around the world are collecting massive amounts of data everyday that’s sitting around and not being utilized. Take for example the fact that companies collect demographic and location-based data via mobile devices all the time, but have to figure out how to monetize that data. In this session, Joyent CTO and founder Jason Hoffman will examine the state of Big Data, taking a look at what we're doing now to discussing what's on the horizon, as companies prepare and realign their busines...
Enterprises can't close their doors just because integration tools won't cope with the volume of information that their systems produce. As each day goes by, their information will become larger and more complicated, and enterprises must constantly struggle to manage the integration of dozens (or hundreds) of systems. Apache Hadoop has quickly become the technology of choice for enterprises that need to perform complex analysis of petabytes of data, but few are aware of its potential to hand...
Planning scalable environments isn't terribly difficult, but it does require a change of perspective. During this session we'll broaden our views to think on an Internet Scale by dissecting a video publishing application built with The SoftLayer Platform, Message Queuing, Object Storage, and Drupal. By examining a scalable modular application build that can handle unpredictable traffic, you'll be able to grow your development arsenal and pick up a few strategies to apply to your own projects.